WeRide Inc. (NASDAQ:WRD) Receives Average Rating of “Moderate Buy” from Analysts

WeRide Inc. (NASDAQ:WRD) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $12.4833.

Several research firms have recently weighed in on WRD. HSBC initiated coverage on shares of WeRide in a research report on Tuesday, March 31st. They set a “buy” rating and a $11.40 price objective for the company. BNP Paribas Exane began coverage on WeRide in a research report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price objective for the company. Citigroup reissued a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Wall Street Zen lowered WeRide from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Zacks Research cut WeRide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st.

Institutional Trading of WeRide

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. increased its stake in shares of WeRide by 37.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,898 shares of the company’s stock valued at $48,000 after acquiring an additional 1,339 shares in the last quarter. NewEdge Advisors LLC bought a new position in WeRide during the first quarter worth $27,000. First Trust Advisors LP boosted its stake in WeRide by 16.4% during the fourth quarter. First Trust Advisors LP now owns 18,632 shares of the company’s stock worth $162,000 after acquiring an additional 2,627 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in WeRide in the second quarter worth $30,000. Finally, Concurrent Investment Advisors LLC grew its holdings in WeRide by 11.0% in the third quarter. Concurrent Investment Advisors LLC now owns 40,250 shares of the company’s stock worth $398,000 after purchasing an additional 3,975 shares during the period.

WeRide Price Performance

Shares of WRD stock opened at $7.51 on Friday. The business’s 50 day simple moving average is $7.32 and its 200 day simple moving average is $8.19. WeRide has a one year low of $6.01 and a one year high of $12.55. The stock has a market capitalization of $2.38 billion, a PE ratio of -10.01 and a beta of 1.88.

WeRide (NASDAQ:WRD) last released its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $44.88 million for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. As a group, research analysts expect that WeRide will post -1.29 earnings per share for the current year.

About WeRide

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.